Weebit - 2023 and beyond, page-835

Email received today from Coby. Hi ##### First, I would like to apologize for the late reply. With the raise last week and a very intensive business trip this week I am behind on my emails.
I can’t go into all the details of the decisions related to the raise, but you should consider the difficult market conditions and the fact that there are practically no raises happening now, so I think the fact that we raised $45M, and we had new institutions join existing ones in this raise, is a good result for both Weebit and shareholders. We should remember that just a few months ago we would be thrilled to do a raise at $5.
The raise will enable us to accelerate our market penetration and enable us to grow revenues faster.Please remember that Dadi, Ashley and I are all in the top 25 shareholders, so we are also looking at things from the shareholder perspective.Weebit will continue to push forward and I believe you will see why we did this raise during the next 1-2 years.Thank you for your support,Coby